A new assessment report by the Nigerian Stock Exchange, NSE, has shown that more than one-third of quoted companies on the Bourse have regulatory and compliance issues that investors need to consider.
The report indicated that more than 60 companies were tagged with red alerts by the Exchange, drawing the attention of the investing public to compliance and regulatory issues in the stocks.
There are 180 companies listed on the NSE and more than 60 of them are tagged with the red alerts for various infractions and compliance issues.
Many high-profile companies in the banking, oil and gas, consumer goods, insurance, construction and services sectors among others were marked out by the CSI for investors’ scrutiny.
Ten codes had been developed by the NSE. The code-Below Listing Standard (BLS) comprises all deficiencies regarding continuing listing standards. Missed Regulatory Filing (MRF) implies that the company missed regulatory filing deadline.
